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. >> if the economy actually went off the fiscal cliff, our assessment, the cbo's assessment, outside forecasters all think that would have very adverse effects on the economy and on the unemployment rate. we cannot offset the full impact of the fiscal cliff. it's just too big. >> there was another figurehead on capitol hill today, urging a solution to the standoff. >> to parents everywhere, call your representatives today, tomorrow, and every day until they pass the tax cut that is so important to you all. >> i guess we're pulling out all stops. senate republican leader mitch mcconnell was not really in the holiday mood today. he claims the president is not giving republicans anything to work with. >> the president and his allies have taken so many things off the table, the only thing left is the varnish. >> well, that's good news. house speaker john boehner says the white house offer is dead in the water. >> the president is calling for $1.4 trillion worth of revenue. that cannot pass the house or the senate. >> here is a news alert for speaker boehner. it's his job to get a deal to
. >> if the economy actually went off the fiscal cliff, our assessment, the cbo's assessment, outside forecasters all think that would have very adverse effects on the economy and on the unemployment rate. we cannot offset the full impact of the fiscal cliff. it's just too big. >> there was another figurehead on capitol hill today, urging a solution to the standoff. >> to parents everywhere, call your representatives today, tomorrow, and every day until they pass the tax cut...
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Dec 5, 2012
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. >> dammit, i gets it's time i explain to these good people about the fiscal cliff. think of the economy as the car and the rich man as the driver. if you don't give the driver all the money, he'll drive you over a cliff. it's just commonsense. >> finally someone on the right willing to tell the truth. but here's the thing. this time it doesn't matter if mr. burns, speaker boehner, or the tea party try to hold the american people hostage just to get what they want. the president isn't going to budge. >> so i want to sq thank you both for coming on the show tonight. congresswoman, let me start with you. is the gop serious about holding the economy hostage again just to get what they want? >> well, think about the cards that they are holding. they are in favor of tax cuts for the rich. they want to cut tax care programs and medicare and make seniors pay and threaten the economy of the united states of america by defaulting on payments or at least to threaten that. this is not a very popular position among the public. in fact, they will be -- i think it's a suicide miss
. >> dammit, i gets it's time i explain to these good people about the fiscal cliff. think of the economy as the car and the rich man as the driver. if you don't give the driver all the money, he'll drive you over a cliff. it's just commonsense. >> finally someone on the right willing to tell the truth. but here's the thing. this time it doesn't matter if mr. burns, speaker boehner, or the tea party try to hold the american people hostage just to get what they want. the president...
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up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less than optimistic? joining me is john, and carl, senior economist for deutsche bank. gentlemen, thank you for being here. start with the treasury secretary. the man in charge of our treasury is out telling everyone that the administration he works for is a part of is perfectly prepared to go over the fiscal cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it
up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less...
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Dec 9, 2012
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we want to keep that in mind as we head towards the fiscal cliff. only four in 10 americans expect the white house and congress to reach a deal on the cliff before the first of the year, and if this goes south, a 53% of the american people are prepared to blame republicans. the president's job approval rating is well over 50%. congress' approval rating is under 20%. why what a the president back down? >> the president isn't interested in a balanced agreement, not particularly interested in avoiding a fiscal cliff, and clearly not been tested at all in cutting and spending. >> the senate minority leader says that what the president is interested in is getting as much taxpayer money has he can so that he can spend to his heart's content. with his approval ratings going up and congress' numbers at historic lows and the unemployment rate dropping, why with the president back down? charles? >> to some extent he is under estimating the damage she will suffer if -- he suffer if we go over the cliff. it will hurt the republicans in congress, which is why de
we want to keep that in mind as we head towards the fiscal cliff. only four in 10 americans expect the white house and congress to reach a deal on the cliff before the first of the year, and if this goes south, a 53% of the american people are prepared to blame republicans. the president's job approval rating is well over 50%. congress' approval rating is under 20%. why what a the president back down? >> the president isn't interested in a balanced agreement, not particularly interested...
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Dec 10, 2012
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. >> when it comes to the fiscal cliff, this threatening of our economy and threatening jobs, the white house has wasted another week. the president has adopted a deliberate strategy to slow walk or economy right to the edge of the fiscal cliff. >> we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> so here's my sense, congressman mccarthy. why in the minds of republicans aren't they processing it this way? look, president, we'll give you what you want on rates. let them go up. but we have to get something in return. big cuts in the medicare program, and we're willing to make a deal is. that essentially the thinking of speaker boehner at this point? >> the president wants the rates to go up, that doesn't solve the problem and we don't want to be back here in another year or 10 years answering the same question. but right after the election, we sent a plan to the president where we gave revenues but looking for spending cuts. and he took three weeks to come back to us. he has gone on still on the campaign trail, still work
. >> when it comes to the fiscal cliff, this threatening of our economy and threatening jobs, the white house has wasted another week. the president has adopted a deliberate strategy to slow walk or economy right to the edge of the fiscal cliff. >> we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. >> so here's my sense, congressman mccarthy. why in the minds of republicans aren't they processing it this way?...
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the longer the white house slow walks this process, the closer our economy gets to the fiscal cliff. right now the american people have to be scratching their heads and wondering when is the president going to get serious? >> boehner and his far right caucus may find the offer unacceptable, but president obama has put a lot on the table. nancy pelosi hit back at boehner's rhetoric today. >> the fact is, the president has and democrats agree, to $1.6 trillion cuts. where are the cuts? in bills that you, mr. speaker, have voted for. >> pelosi is lobbying for house republicans to hold a vote on letting tax cuts expire for the wealthiest americans. with house majority leader eric cantor and congressman paul ryan tasked with pushing boehner's plan on the tea party, it's going to be a tough sell. they are part of boehner's strategy team? in the meantime, the white house is hitting back at boehner and the gop tactics. >> a question of whether or not we have specific spending cuts, the answer is we have. i understand they may not agree with all of it. but it exists. >> i'm joined by illinois
the longer the white house slow walks this process, the closer our economy gets to the fiscal cliff. right now the american people have to be scratching their heads and wondering when is the president going to get serious? >> boehner and his far right caucus may find the offer unacceptable, but president obama has put a lot on the table. nancy pelosi hit back at boehner's rhetoric today. >> the fact is, the president has and democrats agree, to $1.6 trillion cuts. where are the...
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the longer the white house slow walks this process, the slowser our economy gets to the fiscal cliff. >> that slow walk comment specifically was in response to that counteroffer. here's what the white house press secretary responded to boehner. >> it's not a mystery. we have seen this before. this is the document that contains the specific spending cuts. the speaker of the house sent us a proposal that was two pages long. >> yesterday afternoon after all of that back and forth, republicans delivered a formal counteroffer. it was virtually identical to the proposal the president rejected a week ago, but with more detail. the congressional liaison met with boehner's top aide and last night he called boehner himself all to make sure they didn't start trashing each other's proposal. the white house is on the cautiously optimistic side. the house republicans are on the cautiously pessimistic side. they will get a deal and boehner's strong statement on the house floor was for effect for his own problem. they didn't want to make major concessions or counteroffers until boehner admits publicl
the longer the white house slow walks this process, the slowser our economy gets to the fiscal cliff. >> that slow walk comment specifically was in response to that counteroffer. here's what the white house press secretary responded to boehner. >> it's not a mystery. we have seen this before. this is the document that contains the specific spending cuts. the speaker of the house sent us a proposal that was two pages long. >> yesterday afternoon after all of that back and...
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its impact on states and the economy. -- the so-called fiscal clef. members of the national governors' association spoke to reporters but the white house for about 15 minutes. >> good morning, everybody. i am the chair of the national governors' association, the governor of the telephone, -- of delaware, joined by the governor of oklahoma, the vice chair. and we are also joined by the governors of wisconsin and arkansas. we are three democrats and three republicans. we just had what i would say it was a very good meeting with the president. the issues we face as governors and states are considered as part of the discussions going on in washington. the president was very open. we talked about some of the issues we focus on as governors, one of those same opportunities for flexibility, in terms of some of the programs we partner with the federal government. he was open to that as well. and there is an impact not just from the fiscal issues, but the issues in terms of how the discussions here will impact the economy's back home as well. the president to
its impact on states and the economy. -- the so-called fiscal clef. members of the national governors' association spoke to reporters but the white house for about 15 minutes. >> good morning, everybody. i am the chair of the national governors' association, the governor of the telephone, -- of delaware, joined by the governor of oklahoma, the vice chair. and we are also joined by the governors of wisconsin and arkansas. we are three democrats and three republicans. we just had what i...
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the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff and the more person jobs are placed in jeopardy. >> the white house in turn insists its republicans are being inflexible. >> i don't believe that we've heard anything from the leadership that suggests they have moved off their position. they have refused to accept the fundamental fact that hiring -- the top 2% of earners in america are not going to have their tax cuts extended. >> the two sides have been swapping proposals this week but insiders say they didn't view the last white house plan as a serious counteroffer so they resent their original proposal to the president. the problem isn't just there's a big gulf between the two sides, they don't understand how to negotiate with each other. you'd think they might have figured out how to communicate. that hasn't happened. correctly fearing the republicans were insulted by that offer, the phone call the president had with boehner on tuesday night was an attempt to save the talks and assure boehner that the white house wasn't trying to
the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff and the more person jobs are placed in jeopardy. >> the white house in turn insists its republicans are being inflexible. >> i don't believe that we've heard anything from the leadership that suggests they have moved off their position. they have refused to accept the fundamental fact that hiring -- the top 2% of earners in america are not going to have their tax cuts extended....
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Dec 11, 2012
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over the fiscal cliff, and around the capitol there's largely the sound of silence as the white house and congress try to work out a deal behind closed doors. the president has no public events on his schedule. and all through the house, not a creature was stirring except, that is, for john boehner, who emerged to gavel the house into session this afternoon after a week's recess with his trademark holiday cheer. >> washington has a spending problem. now, the president doesn't agree with our approach. he's got an obligation to put forward a plan that can pass both chambers of the congress because right now the american people have to be scratching their heads and wondering when is the president going to get serious? >> i'm sorry, i meant his trademark ba ham bug which he's been doling out by the sleigh load. >> there's a stalemate. let's not kid ourselves. we have a debt problem that is out of control. we've got to cut spending. washington has got a spending problem. just more of the same. >> more of the same indeed. and as minority leader nancy pelosi today declared with americans mak
over the fiscal cliff, and around the capitol there's largely the sound of silence as the white house and congress try to work out a deal behind closed doors. the president has no public events on his schedule. and all through the house, not a creature was stirring except, that is, for john boehner, who emerged to gavel the house into session this afternoon after a week's recess with his trademark holiday cheer. >> washington has a spending problem. now, the president doesn't agree with...
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. >> if we go off the fiscal cliff with no policy changes the near-term negative economic consequences would be significant and most assuredly throw us into a recession. >> comes a day after treasury secretary tim geithner told cnbc the white house is prepared to go the distance if its demands are not met. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again we see there's no agreement that done involve those rates going up on the top 2% of the wealthiest. remember it's only 2%. >> former senator alan simpson, co-founder of the fix the debt campaign, choice words and analysis for would-be cliff jumpers. >> when you have leaders of parties and people from the administration saying, i think it will be to the advantage of the democrats to go off the cliff, wealthy it will be advantage to the republicans to go off the cliff or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. this is big-time stuff. >> surprising exactly no one, senator mitch mcconnell took to the
. >> if we go off the fiscal cliff with no policy changes the near-term negative economic consequences would be significant and most assuredly throw us into a recession. >> comes a day after treasury secretary tim geithner told cnbc the white house is prepared to go the distance if its demands are not met. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again we see there's no agreement that done...
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[farting sounds] >> if the president really wants to avoid sending the economy over the fiscal cliff he's done nothing to demonstrate it. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues it's magic beans and fairy dust. [farting sounds] >> stephanie: all right. >> fairy dust goes very well with bourbon. >> stephanie: republicans were quick to say that boehner's plan was attracting criticism from the right particularly from jim demint of south carolina, tea party leader and as such, represented more of a compromise than obama's stance. uh no! nice try. demint said boehner's plan will destroy american jobs and allow politicians in washington to spend more. oh, please we're not falling for this. they think if they criticize the plan, oh, well it must be a good compromise then. nice try! 29 minutes after the hour. spongebob squarepants tom kenny, our buddy our pal next on "the stephanie miller show." when the last card is played what will be remembered? explore the lives of the famous and infamous who changed our world
[farting sounds] >> if the president really wants to avoid sending the economy over the fiscal cliff he's done nothing to demonstrate it. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues it's magic beans and fairy dust. [farting sounds] >> stephanie: all right. >> fairy dust goes very well with bourbon. >> stephanie: republicans were quick to say that boehner's plan was attracting criticism from...
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up to the fiscal cliff. doing that puts jobs in our country in danger. it jeopardizes a golden opportunity to make 2013 the year that there will be a fundamental tax and entitlement reform that will begin to solve our countries debt problem and, frankly, revenue problem. as you can see from this chart, real revenue growth is critically important. as long as, real cuts and spending, if we are going to solve our long-term fiscal problem. old on -- taking on the big challenges our country is facing. republicans are ready and eager to do just that. we made a reasonable offer. it is now up to the white house to show us how they are going to cut spending and give us the balanced agreement the president has talked about for weeks. the president will step up and show us he is willing to make the spending cuts that are needed, i think, we could do some great stuff in the days ahead. if not, this chart will look a whole lot worse. and, our kids and grandkids, are the ones that will suffer. because washington was too s
up to the fiscal cliff. doing that puts jobs in our country in danger. it jeopardizes a golden opportunity to make 2013 the year that there will be a fundamental tax and entitlement reform that will begin to solve our countries debt problem and, frankly, revenue problem. as you can see from this chart, real revenue growth is critically important. as long as, real cuts and spending, if we are going to solve our long-term fiscal problem. old on -- taking on the big challenges our country is...
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the longer the white house slow walks this process the closer our economy gets fought fiscal cliff. -- gets to the fiscal cliff. here's what we know. we know that the president wants more stimulus spending and an increase in the debt limit without any cuts or reforms. that's not fixing our problem. frankly, it's making it worse. on top of that, the president wants to raise taxes on many small business owners. now, even if we did exactly what the president wants, we would see red ink as far as the eye can see. that's not fixing our problem either. it's making it worse and it's hurting our economy. i think the members know i'm an optimist. i'm hopeful we can reach an agreement. this is a serious issue and there's a lot at stake. the american people sent us here to work together toward the best possible solution and that means cutting spending. if the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress because right now the american people have to be scratching their heads and wondering when is the president
the longer the white house slow walks this process the closer our economy gets fought fiscal cliff. -- gets to the fiscal cliff. here's what we know. we know that the president wants more stimulus spending and an increase in the debt limit without any cuts or reforms. that's not fixing our problem. frankly, it's making it worse. on top of that, the president wants to raise taxes on many small business owners. now, even if we did exactly what the president wants, we would see red ink as far as...
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no end in sight for the fiscal cliff hanger. >> when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another wee>> why speaker says the president's my way or the highway approach is getting us nowhere. >> the feds are borrowing nearly a billion dollars a day. so why is the white house saying reducing our debt not really the goal? >> thank you, eric, it's the most watched video on the internet of all time. he is set to perform for the president. gangnam style said about our soldiers a few years ago. that controversy kicking up this morning. "fox & friends" hour one begins right now. >> get out the coffee. wake up, everyone, thank you so much for waking up with tus, it is "fox & friends" on this saturday morning. dave bowling in for dave briggs. >> come in and do the show with us today. more filling in today than the regulars. we are glad to be on with you clayton. >> you are on an interesting morning because congress now just 23 days left, 23 days until we head off that flif. fiscal cliff. if you listened to speaker boehner yesterday he is reading r
no end in sight for the fiscal cliff hanger. >> when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another wee>> why speaker says the president's my way or the highway approach is getting us nowhere. >> the feds are borrowing nearly a billion dollars a day. so why is the white house saying reducing our debt not really the goal? >> thank you, eric, it's the most watched video on the internet of all time. he is set to perform for...
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the "news nation" is following where things regard right now with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the char itible deduction. >> an obsession to raise taxes not going to solve the problem. what will solve the problem is doing something about the entitlements, taking on the wasteful spending in washington. >> and meantime, "the new york times" jonathan wiseman reports behind the scene republican leaders are considering the president's plan to extend middle class tax cuts now an address the debt and spending in the new year. here's republican senator tom coburn on "morning joe." >> actually, i would rather see the rates go up than the other way and greater chance to broaden the base in the future. >> do something, a down payment
the "news nation" is following where things regard right now with the fiscal cliff and there's hot rhetoric to go around. >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue. >> in order for us to raise the amount of revenue that's needed just by closing deductions and loopholes for high earners we'd have to, for example, eliminate or severely cap the...
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cliff. that is the tax rates that will apply next year. arguably, you don't have to take action this year, you have the whole of next year during which you can reach resolution to that issue. now, the only reason why i think that's an extraordinarily bad idea is i think it would be viewed quite unfavorably by the financial markets. and so you could see a reaction. and it is really bad tax policy to be legislating in the middle of the tax year on the basic structure of the income tax for that year. >> host: we'll go to jeff in tampa, florida, independent caller. >> caller: good morning, how you doing? >> host: good morning, sir. >> caller: yes, i have a question for mr. buckley, and this is more -- it may be a little generic, but something that a couple of my friends and i have talked about and just trying a basic understanding of. instead of having an income tax, has there ever been any discussion about having a national or a federal sales tax to help offset so this way everyone from the ric
cliff. that is the tax rates that will apply next year. arguably, you don't have to take action this year, you have the whole of next year during which you can reach resolution to that issue. now, the only reason why i think that's an extraordinarily bad idea is i think it would be viewed quite unfavorably by the financial markets. and so you could see a reaction. and it is really bad tax policy to be legislating in the middle of the tax year on the basic structure of the income tax for that...
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longer term, tim pact will weigh on the obama administration if the economy doesn't recover. >> all right. many thanks, scott rasmussen, appreciate it very much. >> thanks. >>> with just 26 days until we fall off the tax and fiscal cliff, two dozen house republicans have apparently defected from the boehner plan and signed a bipartisan letter with democrats. people are now asking is there a fallback position for the gop? well, here now to tell us is house majority whip california republican kevin mccarthy, the number three man. mr. mccarthy, as always, thank you for coming back on the show. can i get your comment on this letter, two dozen republicans, they're talking about tax rate flexibility along with a bunch of democrats. what's your take, sir? >> well, remember what they're saying here. what they're saying is that they're going to put everything on to the table. what we've been talking about for so long is where the president has been awol, this is a spending issue that we have a real problem with. we agree that we'll provide revenue, but we do not want to hurt a pro growth economy h
longer term, tim pact will weigh on the obama administration if the economy doesn't recover. >> all right. many thanks, scott rasmussen, appreciate it very much. >> thanks. >>> with just 26 days until we fall off the tax and fiscal cliff, two dozen house republicans have apparently defected from the boehner plan and signed a bipartisan letter with democrats. people are now asking is there a fallback position for the gop? well, here now to tell us is house majority whip...
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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> joining me now, white house correspondent for the hill and congressional correspondent ed o'keith. hi, guys, good to see you both. >> good morning. >> you heard john boehner. we'll start with you. meanwhile the white house say republicans are the ones to blame for dragging their feet. at least publicly, seems we're walking on a treadmill, getting nowhere. anything bigger churning behind the scenes? >> we certainly hope so. the fact two sides do toin to talk, even if we don't necessarily hear about every detail is encouraging. it does appear republicans are getting close to the idea of raising -- sorry, of cutting taxes for middle income americans and maybe sorting out higher incomes a little later. certainly things aren't necessarily going the republicans way. i think we've seen polling this week that suggests congressional republicans would be held to account if, in fact, the country does go over the cliff. but friday sort of signaled, as boehner said, the
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> joining me now, white house correspondent for the hill and congressional correspondent ed o'keith. hi, guys, good to see you both. >> good morning. >> you heard john boehner. we'll start with you. meanwhile the white house say republicans are the ones to blame for dragging their feet. at least publicly, seems we're walking on a treadmill, getting...
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he was going to talk a little bit about the fiscal cliff and that's something we've all been talking about recently, and what it means for us right now and the year ahead. we also have other business news. we'll get back to the president by the way if and when we get that feedback. he will be taking questions from the audience there of business leaders as gregg mentioned. elizabeth mcdonald ever the fox business network is standing by list toning some of what the president had to say about the economy. liz, can you place it in context about where our economy is right now. >> reporter: the president just now was placing it in the -- the economy in the broader context of what is going on in the world, mentioning asia, mentioning europe, and then he turned to what was the most important part of the speech, he started to speak and that is what is holding us back ironically is stuff that is going on in this town, and he also, the president also said, no one wants to get a deal done more than me. so he's trying to essentially give some encouragement to get the fiscal cliff deal talks ignit
he was going to talk a little bit about the fiscal cliff and that's something we've all been talking about recently, and what it means for us right now and the year ahead. we also have other business news. we'll get back to the president by the way if and when we get that feedback. he will be taking questions from the audience there of business leaders as gregg mentioned. elizabeth mcdonald ever the fox business network is standing by list toning some of what the president had to say about the...
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we may or may not go over the fiscal cliff but regardless the economy has stalled and taxes are going up. i mean there is certainty. it is just not great certainty. >> you know, as a family-owned business after 91 years being in business we know that there's a business cycle. what we need to continue to advocate for as job creators is the virtue of free enterprise. we need to stand up for the principles that are going to allow us to provide our people employment, to create prosperity. we have to do that in a unified way because, even though the forecast can look bleak at different times, we have an incredibly resilient economy. great job create, out there given the chance which make a big difference. that is what we have to continue working on. melissa: jim, aren't you afraid of being punished either by the public or by the government for speaking out at this point? i mean i have talked privately to people on wall street who have said, you know, they feel like get pistol-whipped when they say anything against the administration. that it comes back to bite them. at this point it is bet
we may or may not go over the fiscal cliff but regardless the economy has stalled and taxes are going up. i mean there is certainty. it is just not great certainty. >> you know, as a family-owned business after 91 years being in business we know that there's a business cycle. what we need to continue to advocate for as job creators is the virtue of free enterprise. we need to stand up for the principles that are going to allow us to provide our people employment, to create prosperity. we...
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do you know the fiscal cliff. do you think a lot of americans do you think most people are worried i think they are and i think that if i nor dildo buy nothing's really going to change because the economy think that he might think it'll change i just don't they're going to think about it. president asks if americans are prepared to say that's ahead. plus the russian city of sochi is gearing up to host the next winter olympics with preparations now in full swing and so coming up for you after a short break. would you choose do just what their name implies they get between people and drive them apart like a wage and these issues seem to always take the forefront in the media things like abortion gun rights marijuana legalization and the weather well the weather isn't really a west cost people sure talk about it way too much there's only so much room with the national discourse and the switch issues just eat up all of the time and attention but the thing is that there's a little something called the tenth amendment y
do you know the fiscal cliff. do you think a lot of americans do you think most people are worried i think they are and i think that if i nor dildo buy nothing's really going to change because the economy think that he might think it'll change i just don't they're going to think about it. president asks if americans are prepared to say that's ahead. plus the russian city of sochi is gearing up to host the next winter olympics with preparations now in full swing and so coming up for you after a...
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going over the fiscal cliff could send the u.s. economy into verse. christine lagarde spoke with candy kroll crowley about how a needs to be hammered out. >> the best way to go forward is to have a balanced a i approach that takes into account both increasing the revenue, which means either raising tax or creating new sources of revenue and cutting spendings as well. >> the imf has a real interest in how the u.s. economy is doing because it will directly impact how the global economy does. financial markets are also waiting on new forecasts from the federal reserve, but any positives could be dampened by uncertainty about what's going to happen with the fiscal cliff. >>> in egypt, opponents of morsi are calling for a major march on the presidential -- in
going over the fiscal cliff could send the u.s. economy into verse. christine lagarde spoke with candy kroll crowley about how a needs to be hammered out. >> the best way to go forward is to have a balanced a i approach that takes into account both increasing the revenue, which means either raising tax or creating new sources of revenue and cutting spendings as well. >> the imf has a real interest in how the u.s. economy is doing because it will directly impact how the global...
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cliff is having affects on the economy, even though we're not yet even reached the point of the fiscal cliff potentially kicking in, it's already affecting biz investment and hiring decisions by creating uncertainty, or creating pessimism. >> woodruff: all of which threatened to cast a pall over the holidays, at the capitol, and just about everywhere else. and that brings us to our continuing series of conversations on this topic. tonight, one of the more outspoken voices against raising taxes. grover norquist is a conservative lobbyist and the president of americans for tax reform. most famously, he's known for getting many elected republicans to sign a pledge to not raise taxes. but now some lawmakers are suggesting they may be willing to change their position. grover norquist, welcome to the program. >> good to be with you. >> woodruff: in fact, there are a growing number of republicans who are saying either they've renounced that pledge or they may be prepared to renounce it in order to deal with the serious fiscal problem facing the country. >> well, interestingly, the problem we
cliff is having affects on the economy, even though we're not yet even reached the point of the fiscal cliff potentially kicking in, it's already affecting biz investment and hiring decisions by creating uncertainty, or creating pessimism. >> woodruff: all of which threatened to cast a pall over the holidays, at the capitol, and just about everywhere else. and that brings us to our continuing series of conversations on this topic. tonight, one of the more outspoken voices against raising...
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i want to ask you about the fiscal cliff, the state of play. there's revenues on the table. there's tax rate increases on the table. i don't know if there's spending on the table. what's your thinking prigt now? >> that it's a really, really bad idea to raise taxes. if you want your economy to grow, you should do the opposite. we have to cut taxes. that's how i'd fix the economy. leave more money in the private sector. the president is adamant about raising taxes and he's dead wrong. >> there are some people saying we need a deal to avoid a huge tax increase but year end that would throw us into recession. just a thought, would you compromise in terms of let's say a smaller tax rate increase -- let's say the top rate goes to 37% instead of 40%, maybe the threshold goads es to $500,000 $750,000 rather than $250,000? does that interest you? >> no. but what about means testing for entitlement. why don't we say the rich get less social security and they pay more for their medicare? it meets the president's animus that we must get more money out of the rich. let's just send less
i want to ask you about the fiscal cliff, the state of play. there's revenues on the table. there's tax rate increases on the table. i don't know if there's spending on the table. what's your thinking prigt now? >> that it's a really, really bad idea to raise taxes. if you want your economy to grow, you should do the opposite. we have to cut taxes. that's how i'd fix the economy. leave more money in the private sector. the president is adamant about raising taxes and he's dead wrong....
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going over the fiscal cliff could send the u.s. economy into verse. christine lagarde spoke with candy kroll crowley about how a needs to be hammered out. >> the best way to go forward is to have a balanced a i approach that takes into account both increasing the revenue, which means either raising tax or creating new sources of revenue and cutting spendings as well. >> the imf has a real interest in how the u.s. economy is doing because it will d
going over the fiscal cliff could send the u.s. economy into verse. christine lagarde spoke with candy kroll crowley about how a needs to be hammered out. >> the best way to go forward is to have a balanced a i approach that takes into account both increasing the revenue, which means either raising tax or creating new sources of revenue and cutting spendings as well. >> the imf has a real interest in how the u.s. economy is doing because it will d
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he will also make the case that this fiscal cliff will have a negative impact on the overall economy and he will push these business leaders to support his approach. soledad? >> dan lothian, in washington, d.c., for us, thank you. >>> just a few minutes we'll be chatting with stephanie cutter, the woman who helped manage president obama's re-election campaign. we'll talk more about the fiscal cliff. >>> first a look at other stories that are making news today. zoraida has that for us. >> good morning to you. the death toll in the philippines is rising this morning. typhoon bopha moving toward beach resorts in the northern part of the country and right now it is packing winds over 90 miles an hour. that storm has already caused massive flooding and landslides in the southern philippines. dozens of buildings have been destroyed and the death toll stands at 133 with hundreds more still missing. >>> meantime in rain soaked seattle there are concerns about more mudslides. meteorologist karen maginnis joins us live from atlanta with the latest. they cannot get a break. >> they really can't
he will also make the case that this fiscal cliff will have a negative impact on the overall economy and he will push these business leaders to support his approach. soledad? >> dan lothian, in washington, d.c., for us, thank you. >>> just a few minutes we'll be chatting with stephanie cutter, the woman who helped manage president obama's re-election campaign. we'll talk more about the fiscal cliff. >>> first a look at other stories that are making news today. zoraida...
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the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff and the more american jobs are lacplaced in jeopardy. >> well, they talk and we all listen and then we decide who we appreciate more. it's in the form of a poll who is handling these negotiations better. the latest abc news "washington post" poll says 49% of americans think president obama is doing a better job of all of this, while only 25% say they approve of speaker boehner's efforts. those aren't the numbers you want to see if you're the speaker right now. our senior congressional correspondent dana bash has been working her sources throughout the morning, joining me live now from washington. one of the things i see, dana, that's so frustrating, is we get a lot of rhetoric on television and we hear later about secret conversations. i just wonder how much rhetoric is going on behind closed doors or if they're really getting closer. >> reporter: well, you just mentioned there was a monphone l between the speaker and the president, and by all accounts, it really did not go well. i'm
the longer the white house slow walks this discussion, the closer our economy gets to the fiscal cliff and the more american jobs are lacplaced in jeopardy. >> well, they talk and we all listen and then we decide who we appreciate more. it's in the form of a poll who is handling these negotiations better. the latest abc news "washington post" poll says 49% of americans think president obama is doing a better job of all of this, while only 25% say they approve of speaker...
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. >> federal reserve will keep helping with the economy because of the fiscal cliff situation denting consumer confidence and business confidence so you really need ben bernanke in there. on friday.t news >> unemployment report was better than expected but needs to be better than that. >> buzz in washington about whether susan rice or john kerry will be the next secretary of state and i'm told the president hasn't made up his mind yet and may not make up his mind until january. he wants to get the fiscal cliff business done with so don't be in a rush to await that decision. chris: when we return, the the week, will barack obama's scores in the second term be on foreign policy or here at home? chris: welcome back. syria, egypt and afghanistan are just the foreign policy challenges we already know about russia out china and there which brings us to the big question this week -- will the president's second term triumphs be abroad or here at home? >> i think his second term will be defined by foreign policy and looming confrontation over iran. chris: politco has spoken. >> despite all of
. >> federal reserve will keep helping with the economy because of the fiscal cliff situation denting consumer confidence and business confidence so you really need ben bernanke in there. on friday.t news >> unemployment report was better than expected but needs to be better than that. >> buzz in washington about whether susan rice or john kerry will be the next secretary of state and i'm told the president hasn't made up his mind yet and may not make up his mind until...
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america is about to go over the fiscal cliff are you worried what should we do about it this week let's talk about that do you know if it's good. do you think a lot of americans do so then why is the media talking about it incessantly we're also going to do i guess i have not as informed as i should be but i just kind of figure it might work out do you think most people feel that way you know you think most people are worried i think they are and i think that if i ignored it all go away do you think calling it something like the fiscal cliff minimizes that yes or no i definitely agree that it's a complex problem i don't think it simplifies it though i think it adds an element of panic or fear looming. doom and the media loves that do you think there's actually something to worry about or do you think it's something the politicians in the media used to distract us from what's really going on politics and media for sure so what's really going on that they're distracting us from. their own personal agendas if they're not really trying to work together there are three business channels we'r
america is about to go over the fiscal cliff are you worried what should we do about it this week let's talk about that do you know if it's good. do you think a lot of americans do so then why is the media talking about it incessantly we're also going to do i guess i have not as informed as i should be but i just kind of figure it might work out do you think most people feel that way you know you think most people are worried i think they are and i think that if i ignored it all go away do you...
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barack obama is negotiating good the republicans how to avoid the so-called fiscal cliff it's a set of spending rises and tonks cuts that are set to take effect on the first of january and could be ruinous to the economy but does the average american see a day looming do all these new york residents try to find out. america is about to go over the fiscal cliff are you worried what should we do about it this week let's talk about that do you know the fiscal cliff. do you think a lot of americans do you know so then why is the media talking about it incessantly well i i guess i have not as informed as i should be but i just kind of figure it might work out do you think most people feel that way you know you think most people are worried i think they are and i think that if i ignored it all go away do you think calling it something like the fiscal cliff minimizes it yes and no i definitely agree that it's a complex problem i don't think it simplifies it though i think it adds an element of panic or fear looming. doom that and the media loves that yeah do you think there's actually somethi
barack obama is negotiating good the republicans how to avoid the so-called fiscal cliff it's a set of spending rises and tonks cuts that are set to take effect on the first of january and could be ruinous to the economy but does the average american see a day looming do all these new york residents try to find out. america is about to go over the fiscal cliff are you worried what should we do about it this week let's talk about that do you know the fiscal cliff. do you think a lot of americans...
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the president talking about the fiscal cliff, et cetera. >> obama: for them to be burdened unnecessarily gives you a sense of the costs involved in very personal terms, obviously with would also have an impact on the economy, because if this family has a couple of thousand dollars less to spend that translates into $200 million of less consumer spending next year. >> stephanie: oh this just in -- [♪ "world news tonight" theme ♪] >> stephanie: nancy pelosi is going to brief us on the fiscal cliff talk at 12:00 eastern. >> it's joke! >> you can't take anything boehner says seriously at all. it's so win-win for the democrats on this. and i would like to see the president go off the cliff and let the republicans try to vote it down. >> stephanie: we posted a great article -- it was the best thing i have read about the l.a. times, where he said let's hold hands and walk down together. it's not that bad. all of the nobel prize winning economists asking george bush not to enact these policies in the first place. >> exactly right. this was used because bill clinton has a surplus. bush said l
the president talking about the fiscal cliff, et cetera. >> obama: for them to be burdened unnecessarily gives you a sense of the costs involved in very personal terms, obviously with would also have an impact on the economy, because if this family has a couple of thousand dollars less to spend that translates into $200 million of less consumer spending next year. >> stephanie: oh this just in -- [♪ "world news tonight" theme ♪] >> stephanie: nancy pelosi is...
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the longer the white house slow- walks this process, the closer our economy gets to the fiscal cliff. >> reporter: behind the scenes, progress is being made, but democrats are still arguing they've given ground in previous budget battles. that's one reason they are holding firm on higher taxes now. >> $1.6 trillion in cuts. "where are the cuts?" they are in bills that you, mr. speaker, have voted for. >> reporter: and there were new calls for more tax revenue today. warren buffett, vanguard founder john bogle, and financier george soros were among the famous names to call for a tougher estate tax. their proposal would exempt couples with up to $4 million in assets from the estate tax. above that level, estates would pay a 45% tax rate, rising to 50% or more on very large estates. supporters say that would both bring in badly needed revenue and help protect our democracy. >> it works to reduce concentrations of economic and political power across generations, and those concentrations are antithetical to the basic premise, if you will, of the founding of our republic, which was that it
the longer the white house slow- walks this process, the closer our economy gets to the fiscal cliff. >> reporter: behind the scenes, progress is being made, but democrats are still arguing they've given ground in previous budget battles. that's one reason they are holding firm on higher taxes now. >> $1.6 trillion in cuts. "where are the cuts?" they are in bills that you, mr. speaker, have voted for. >> reporter: and there were new calls for more tax revenue today....